The pair started in Asia at $1.3910 after a $1.3912 to $1.3939 range in the US last night. Muted early moves saw euro-dollar in a holding pattern at the $1.3910/12 area, before it dipped slightly to $1.3906. Euro sentiment got a lift from reports that Russian President Vladimir Putin appeared to soften his stance on Ukraine, calling for pro-Russian separatists to delay this weekend’s secession vote. Euro-dollar broke higher in the late morning as euro-yen also rebounded off its session low, with the former breaking through $1.3915 to trade a high of $1.3919. Euro-dollar was last at $1.3915. The immediate concern for the rest of the session is the ECB meeting ahead. The ECBis expected to keep policy steady this week, although analysts do leave room for a surprise after April’s decision was cited as being on “a razor’s edge,” according to ECB President Mario Draghi. Euro-dollar offers are aplenty up top with barriers noted ahead at $1.3975, $1.3990 and $1.4000.
